During the ongoing BFSI Summit, Reserve Bank of India (RBI) Governor Shaktikanta Das shared insights on the Indian economy’s state, drawing a nuanced view of recent economic data. He acknowledged mixed indicators but emphasized a positive outlook overall. Das pointed to sustained momentum in growth, with signs of resilience across several sectors, including financial services and infrastructure. While some areas show signs of slowing, Das highlighted that policy support, reforms, and resilient domestic demand create a solid foundation for continued recovery.
Source:- bbc news
On inflation, Das remarked that while it remains a concern, especially due to global factors such as rising commodity prices and supply chain disruptions, the RBI’s efforts in inflation targeting are yielding stable outcomes. He assured the BFSI leaders that the central bank is prepared to take further actions if needed to keep inflation within the target range, which would, in turn, protect consumer purchasing power and support growth.
Source:- bbc news
The banking sector, Das observed, is seeing robust asset quality, with non-performing assets (NPAs) reducing significantly and lending on the rise, which indicates healthy credit growth. He attributed this improvement to prudent policy measures, including targeted support for stressed sectors and efforts to increase liquidity. According to Das, the ongoing reforms in digital payments and infrastructure, combined with rising fintech involvement, have also strengthened the financial ecosystem and improved access to financial services for underserved segments.
Das concluded that the positives in India’s economic data—resilient demand, improving asset quality, and controlled inflation—outweigh the negatives. He reassured the financial sector of the RBI’s commitment to fostering a supportive environment for growth, innovation, and stability. This optimistic outlook from Das sets a tone of confidence for investors and the BFSI sector as they navigate a complex global economic landscape.
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